By Wendy Van Sickle
Columbus, Ohio, Nov. 4 – Credit Suisse AG, London Branch priced $230,000 of contingent coupon buffered autocallable yield notes due Oct. 31, 2022 linked to the least performing of the VanEck Vectors Gold Miners ETF and the SPDR S&P Oil & Gas Exploration & Production ETF, according to a 424B2 filing with the Securities and Exchange Commission.
The notes will pay a contingent monthly coupon at an annualized rate of 9.85% if each asset closes at or above its 80% coupon barrier on the related monthly observation date.
The notes will be called at par if each asset closes at or above its initial level on any monthly call observation date after six months.
The payout at maturity will be par unless either asset falls by more than 25%, in which case investors will lose 1% for each 1% decline of the worse performing asset beyond the 25% buffer.
Incapital LLC is the placement agent.
| Issuer: | Credit Suisse AG, London Branch
|
| Issue: | Contingent coupon buffered autocallable yield notes
|
| Underlying assets: | VanEck Vectors Gold Miners ETF and SPDR S&P Oil & Gas Exploration & Production ETF
|
| Amount: | $230,000
|
| Maturity: | Oct. 31, 2022
|
| Coupon: | 9.85% annualized, payable monthly if each asset closes at or above its coupon barrier on related monthly observation date
|
| Price: | Par
|
| Payout at maturity: | Par unless either asset falls by more than 25%, in which case 1% loss for each 1% decline of worse performing asset beyond 25%
|
| Call: | At par if each asset closes at or above initial level on any monthly call observation date after six months
|
| Initial levels: | $27.06 for Gold Miners, $21.69 for oil and gas
|
| Coupon barriers: | $21.648 for Gold Miners, $17.352 for oil and gas; 80% of initial levels
|
| Buffer levels: | $20.295 for Gold Miners, $16.2675 for oil and gas; 75% of initial levels
|
| Agent: | Incapital LLC
|
| Pricing date: | Oct. 26
|
| Settlement date: | Oct. 31
|
| Fees: | 2.75%
|
| Cusip: | 22551N2J4
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
